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WorksheetsA*S*K Fundamental Business Concepts Practice Test
Total questions: 50
Worksheet time: 50mins
Written communications in business should
use long, informative sentences.
be totally impersonal.
use technical language.
be clear and easy to understand.
When writing a business report, Thomas might check his writing and style manual to determine the
formal definitions of important terms.
best way to set up tables using computer software.
synonyms for common words.
appropriate way to cite his resources.
So the company can make wise business decisions, it is important for the company to effectively manage its
ratings.
markets.
information.
demand.
To build positive customer relations, a business must be
proactive.
small.
profitable.
aggressive.
A customer called to complain that a promised shipment had not arrived and to find out what happened. You say you will check and call back. How can you show a customer service mindset?
By calling back as soon as possible with an answer
By helping organize the warehouse
By following up to see if the customer is satisfied with your company's service
By talking about the problem with coworkers
What kind of customer would ask, "If I buy this product, how can I be sure it will do what you say it will?"
Eager
Domineering/Superior
Slow/Methodical
Suspicious
What should you do to determine whether a customer's complaint is justified?
Investigate the problem
Restate the complaint
Ask a supervisor
Take immediate action
A farmer recently purchased 1,400 acres of farmland and six new pieces of farm machinery. What categories of resources did the farmer acquire?
Labor and human
Natural and capital
Capital and labor
Natural and land
Promotion, layaway, and credit help create __________ utility.
form
time
possession
sales
What type of market likely exists when a local car dealer has many vehicles for sale at low prices but demand is low?
Buyer's
Elastic
Inelastic
Seller's
In order to have exclusive rights to their literary and artistic works, authors and artists can apply for a
tariff.
patent.
copyright.
trademark.
Which of the following is an example of the limits to economic freedom:
Francesca wants to start her own company, so she becomes an entrepreneur.
Shawn competes with several other applicants for the job position he wants.
A company wants to purchase an office building, but another company purchases it.
Patrick decides to sell his car to his younger sibling for $10,000.
Many businesses reinvest the profits that they make to
increase employees' bonuses.
expand their operations.
improve their credit rating.
increase their emergency funds.
Which of the following is an example of how all small businesses directly strengthen a nation's economy:
Small businesses are likely to grow into large companies.
Small businesses develop strong local ties and connections.
Small businesses are the building blocks of large corporations.
Small businesses control their expenses and operating costs.
One characteristic of trade-industry businesses is that they sell
a narrow assortment of products.
only full product lines.
only limited product lines.
products to others.
Emotionally intelligent leaders display
technical expertise.
confidence.
authority.
hopefulness.
An employee who misuses company time is actually
stealing.
shoplifting.
pilfering.
robbing.
A willingness to learn, to change, and to take occasional risks all refer to a leader with
credibility.
a passion for work and people.
flexibility.
business knowledge.
Abby feels the company's vacation policies are fair, while Jaya thinks they are too strict. Abby and Jaya's disagreement is an example of a(n) __________ conflict.
functional
critical
essential
emotional
What type of statement can make a person feel defensive and angry during a conflict?
It
You
Me
I
The practice of developing mental or physical images of your personal goals is referred to as the __________technique.
affirmation
ineffective
imagination
visualization
Aja and Todd work in a local stationery store. When business is slow, Aja tends to text on her phone and stand around, while Todd tends to straighten the shelves and restock items that are needed. Which of the following traits is Todd demonstrating:
Empathy
Initiative
Receptivity
Loyalty
Which of the following is a factor that might prevent businesspeople from developing cultural sensitivity:
Demographics
Principles
Stereotypes
Ethics
When all members of a work team take a "we're all in this together" attitude, they are
focusing on one person's performance.
willing to share accountability.
being creative and innovative.
developing personal agendas.
When DeShawn’s teacher compliments his work on the group project, DeShawn gives credit to the other group members who helped. DeShawn is demonstrating
transparency
viability
rule of law
trust
Siobhan always treats others the way that she'd like to be treated. She is building trust by
taking responsibility for her mistakes
being fair
communicating often and openly
keeping her promises
Which of the following is a source of income a person should consider when developing a personal budget:
Insurance
Clothing
Utilities
Salary
Business accounting information often is summarized in which of the following types of financial statements:
Trade report
Fiscal policy
Balance sheet
Sales forecast
The administration of assets refers to decisions about
financing
spending
investments
accounting
You can tell that a project was successful if it
is widely popular
fixed a problem
had a plan
is sustainable
Elliot owns Infinity Yachts, a yacht charter business in the Florida Keys. Elliot recently decided to increase her advertising, specifically the advertising on local radio and television. Which of the following marketing functions relates to Elliot's decision:
Distribution
Promotion
Financing
Selling
“Helsinki is the capital of Finland” is an example of what type of information?
Opinion
Criticism
Unproven
Factual
Information that has been printed for publication is often more reliable than many internet sources because
the information is typically carefully checked for accuracy
publishers do not support special interest groups
published information is current and up to date
authors have affiliations with professional organizations
A business letter that has easy-to-understand information is said to have
caution
courtesy
consensus
clarity
Last year, several of Readmore Bookstore's employees hurt their backs while lifting heavy boxes. As a result, the bookstore is reteaching its workers how to safely lift heavy boxes of books. What type of control is the business using to protect its employees' health and safety?
Administrative control
Engineering control
Work-practice control
Personal protective equipment
The purpose of requiring customers to use a check-in, check-out system for taking clothing into fitting rooms is to
assign a salesperson to each customer
encourage customers to try on more clothes
reduce the opportunity for theft
save customers some shopping time
Are the outputs of production limited to tangible items?
No, outputs are limited to intangible items
No, outputs can be tangible or intangible
Yes, outputs are limited to tangible items
Yes, outputs are tangible goods and services
Which of the following is an important aspect of a business's operations function:
Establishing efficient processes
Providing access to information
Hiring qualified employees
Locating potential customers
Shia manages the day-to-day activities needed to produce and distribute smartphones for a worldwide company. Shia's job title is most likely
quality inspector
marketing manager
operations manager
sales manager
Which of the following is a corrective action you could take if your project has derailed:
Risk tracking
Stakeholder management
Refocusing scope
Project failure
Which of the following groups of people would be most interested in using financial information for trend identification:
Auditors
Investors
Employees
Customers
A business's employees should keep themselves well groomed and
accessorize with plenty of jewelry
wear their most expensive clothes
abide by the dress policies of the employer
demonstrate personal clothing tastes
In order to use self-understanding to become a mature individual, you also need to
identify your potential
change your personality
have the support of your friends
develop your best characteristics
To help Joseph determine which career to pursue, he should honestly examine his personality traits, abilities, and
techniques
interests
opportunities
expressions
Jamal is a skilled communicator and is well-liked by all who meet him. However, he is struggling in his sales position because he is not familiar with the new software and computer programs used for communicating and making presentations. Which of the following will help Jamal improve his job performance:
Adopting a better attitude
Completing a communication course
Updating his technology skills
Demonstrating respect for others
Under what circumstances would it be appropriate for a person to send a cover letter or letter of application to a business?
When responding to a request for information
When acting on a referred job lead
When submitting educational transcripts
When completing new-hire paperwork
Shonda needs to choose between two colleges. After doing a lot of research about both schools, she has a gut feeling that one is the right choice, so she decides to go there. Shonda is using __________ to solve her problem.
mind mapping
the seven-step method
intuition
brainstorming
Which of the following statements regarding protocols is true:
Company protocols are generally not as important as company policies
Protocols are broader in nature than other types of company guidelines
A protocol is a type of guideline that prohibits a certain activity
Employees don't need to know about their company's protocol
Which of the following best describes the relationship between ethics and rules of conduct:
Ethics are more specific than rules
Rules are more important than ethics
Ethics should be based on rules
Rules should be based on ethics
What are the primary functions of management?
Controlling, leading, planning, and retailing
Controlling, purchasing, leading, and selling
Controlling, marketing, planning, and wholesaling
Controlling, leading, organizing, and planning
